New Mozambique Gas Adds Fire To Cove Bidding War

Law360, New York (June 12, 2012, 4:50 PM EDT) -- Anadarko Petroleum Corp.’s new gas find at its offshore license in Mozambique, announced Monday, heightens the stakes of the already-tense bidding war between Royal Dutch Shell PLC and a Thai energy producer for Cove Energy PLC, the London-listed energy firm that holds an 8.5 percent stake in the project.

Cove's interest in the Rovuma project, its largest asset, has drawn competing bids from Shell and Thailand's PTT Exploration & Production PCL in a four-month takeover battle whose value has risen to $1.9 billion — and will...